Zigzag Stitch's toddlerization of the BSJ was what convinced me to commit. But finding an explanation without turning to page fifty-four of EZ's The Opinionated Knitter proved trickier than I had imagined. A few Google searches later and I found some very helpful videos of versions of the technique on Youtube:
Judy's four-stitch bind off version
Stell66's two- (actually three-) stitch version
And there are many more available.
There are a few versions (i.e., three-stitch vs. four-stitch) kicking around out there on the internet but it seems to boil down to a sort of decreasing shuffle:
Cable cast on three stitches,
Knit one or two,
Knit the next two stitches together through the back of the loops,
Return all stitches to the left needle.
When I knit it, I have the weirdest sense of déja vu. Could it be a derivation of something?